It has been reported that in a Badger Improvement Proposal listed on governance forums, BIP-43, Chris Spadafora, the founder of BadgerDAO, wrote that the new domain will “quickly increase the value [of the app] across all these categories such as daily traffic, referring websites, search engine optimization etc.”
“As Badger expands to become the most trusted place for anyone to put their Bitcoin to work, it’s important that the first experience for non native crypto users is comfortable and that we help them quickly overcome the common stigma that surrounds the cryptocurrency industry today.”
The founder added:
“Essentially Arben Kane purchased it for $300k with the intention of transferring ownership to the DAO. He went direct to the seller since he knew him personally while I was working with brokers quoting me $500k so the middle men get their cut. Now I’m putting a proposal together to have the community sign off on using treasury funds to buy it from Arben at the cost he paid.”
However, despite having a treasury worth well over a half-billion in various assets, the DAO cannot purchase the domain outright due to not being a legal entity, ultimately leading to the purchase-vote-transfer process.
The report said that Badger is not the only DeFi project with a fancy new homepage. Earlier this month, crypto investment fund Future Fund gifted the “sushi.com” domain to the multiservice platform SushiSwap.
Badger DAO joins SushiSwap in cornering a hot digital domain! The DeFi protocol will soon call "https://t.co/I9bSIeRUZ8" home. @Blockanalia reports https://t.co/cfseGQJU6Z — Cointelegraph (@Cointelegraph) March 12, 2021
Prior to the migration, SushiSwap’s had been notably scattered across various domains, and the team said that they “couldn’t believe” they’d obtained the pricy web property, various domain sales sites had previously listed it for between $600,000 and $1.5 million.
Joseph Delong, the CTO of SushiSwap, said that the new domain has been a significant driver of traffic for the project.
Thus, Delong concluded:
“We have seen a 5x in our web3 calls to our Alchemy instances that coincided with the procurement of http://sushi.com. I think from a branding perspective it has been a boon.”